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Star Bulk Carriers (SBLK)
NASDAQ:SBLK
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Star Bulk Carriers
(NASDAQ:SBLK)
Rating:76Outperform
Price Target:
$21.50
â–²(13.22% Upside)
Star Bulk Carriers (SBLK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.15B
Dividend Yield7.58%
Average Volume (3M)1.27M
Price to Earnings (P/E)17.8
Beta (1Y)0.99
Revenue Growth2.95%
EPS Growth-61.74%
CountryUS
Employees301
SectorIndustrials
Sector Strength84
IndustryMarine Shipping
Share Statistics
EPS (TTM)0.11
Shares Outstanding114,585,310
10 Day Avg. Volume1,003,657
30 Day Avg. Volume1,268,785
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)0.64
Price to Sales (P/S)1.26
P/FCF Ratio3.88
Enterprise Value/Market Cap1.36
Enterprise Value/Revenue2.32
Enterprise Value/Gross Profit6.90
Enterprise Value/Ebitda5.42
Forecast
1Y Price Target
$21.50Price Target Upside13.22% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Star Bulk Carriers Business Overview & Revenue Model
Company DescriptionStar Bulk Carriers Corp. (SBLK) is a leading global provider of marine transportation services, specializing in the transportation of dry bulk commodities such as iron ore, coal, grain, and other bulk materials. The company operates a modern fleet of large bulk carriers, which are utilized to serve a diverse customer base, including commodity traders, industrial manufacturers, and government entities. Star Bulk Carriers is primarily focused on the dry bulk shipping sector, offering reliable and efficient shipping solutions across major trade routes worldwide.
How the Company Makes MoneyStar Bulk Carriers generates revenue primarily through the chartering of its vessels for the transportation of dry bulk commodities. The company operates under various charter arrangements, including time charters and voyage charters. In time charters, SBLK leases its ships for a specified period, receiving a fixed daily rate. In voyage charters, the company is paid a fee for transporting cargo from one port to another, with rates often linked to market conditions. Additionally, Star Bulk may enter into contracts of affreightment, where it commits to transporting a certain volume of cargo over a period, securing predictable revenue streams. The company's earnings are significantly influenced by global shipping demand, commodity prices, and operational efficiency. Strategic partnerships with commodity traders and industrial clients also enhance revenue stability and growth opportunities.
Star Bulk Carriers Earnings Call Summary
Earnings Call Date:Aug 06, 2025
(Q2-2025)
| % Change Since: -0.84%|
Next Earnings Date:Nov 18, 2025
Earnings Call Sentiment Neutral
The earnings call highlights the company's strategic moves in share repurchase, cost optimization, and fleet efficiency improvements, along with a positive market outlook. However, these are tempered by low net income, significant debt levels, and a projected contraction in dry bulk trade. Despite challenges, the company's actions and outlook suggest a cautious optimism.Q2-2025 Updates
Positive Updates
Share Repurchase and Strong Liquidity
The company repurchased 3.3 million shares for a total of $54 million, and maintained strong liquidity with a total cash position of $407 million and additional liquidity of $115 million from undrawn revolver facilities.
Cost Synergies and Operational Efficiency
Achieved over $53 million in cumulative cost synergies since April 2024, with $13 million realized in Q2 2025. Operating expenses for Q2 2025 were $4,928 per vessel per day, and the company remains a top performer in rideship safety scores.
Fleet Optimization and Sales
Continued disposing of non-Eco vessels to improve fleet efficiency, with expected net sales proceeds of $104 million during Q3 and Q4 2025.
Positive Market Outlook
The company remains optimistic about the medium- to long-term outlook for the dry bulk market, supported by favorable supply outlook, stricter IMO environmental regulations, and China's stimulus measures.
Negative Updates
Low Net Income
Net income amounted to only $40,000, with an adjusted net income of $13.2 million or $0.11 per share.
Debt Levels
Total debt stands at $1.12 billion, which remains a significant financial obligation.
Dry Bulk Trade Contraction
Total dry bulk trade during 2025 is projected to contract by 0.9%, with specific declines in coal and grain shipments.
Company Guidance
During the Star Bulk Carriers conference call for the second quarter of 2025, key financial metrics were highlighted, including a net income of $40,000 and an adjusted net income of $13.2 million or $0.11 per share. The adjusted EBITDA for the quarter was $69 million. The company prioritized shareholder returns, repurchasing 3.3 million shares for $54 million and declaring a dividend of $0.05 per share. The total cash stood at $407 million, with total debt at $1.12 billion and pro forma liquidity exceeding $0.5 billion. The time charter equivalent rate was $13,624 per vessel per day, while daily operating expenses and net cash G&A expenses per vessel amounted to $6,277, resulting in a net of approximately $7,350 per day per vessel. The company reported significant cost synergies from the Eagle acquisition, amounting to $53 million since April 2024. Additionally, they planned $33 million in dry dock expenses for 30 vessels in the remainder of the year, with expected net sales proceeds of $104 million from vessel sales during Q3 and Q4 of 2025.Star Bulk Carriers Financial Statement Overview
Summary
Star Bulk Carriers presents a strong financial position with notable revenue and profit growth, efficient operations, and effective cash flow management. However, the company should remain vigilant regarding its debt levels to ensure long-term financial stability.Income Statement
Star Bulk Carriers has demonstrated strong financial performance with impressive revenue growth of 33.3% from 2023 to 2024. The gross profit margin improved marginally, indicating efficient cost management. The net profit margin increased significantly to 24.1%, reflecting enhanced profitability. EBIT and EBITDA margins also improved, showcasing operational efficiency.80
Positive
Balance Sheet
The company maintains a healthy balance sheet with a debt-to-equity ratio of 0.51, indicating moderate leverage. Return on equity increased to 12.3%, driven by higher net income. The equity ratio is stable at 60.7%, suggesting a solid equity base. However, the total debt remains substantial, necessitating careful debt management.75
Positive
Cash Flow
Star Bulk Carriers has shown robust cash flow management with a 29.8% growth in free cash flow. The operating cash flow to net income ratio stands at 1.53, indicating strong cash generation from operations. Free cash flow to net income ratio is 1.35, highlighting effective capital expenditure control.82
Very Positive
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.27B | 949.27M | 1.44B | 1.43B | 693.24M |
| Gross Profit | 420.50M | 259.24M | 677.46M | 774.97M | 98.37M |
| EBITDA | 561.37M | 405.21M | 785.49M | 888.91M | 211.30M |
| Net Income | 304.65M | 173.56M | 566.00M | 680.53M | 9.66M |
Balance Sheet | |||||
| Total Assets | 4.09B | 3.03B | 3.43B | 3.75B | 3.19B |
| Cash, Cash Equivalents and Short-Term Investments | 425.07M | 259.73M | 284.32M | 450.29M | 190.51M |
| Total Debt | 1.46B | 1.26B | 1.29B | 1.59B | 1.56B |
| Total Liabilities | 1.60B | 1.37B | 1.41B | 1.67B | 1.64B |
| Stockholders Equity | 2.48B | 1.66B | 2.02B | 2.08B | 1.55B |
Cash Flow | |||||
| Free Cash Flow | 412.28M | 317.69M | 744.50M | 636.92M | 98.49M |
| Operating Cash Flow | 467.38M | 335.78M | 769.90M | 767.07M | 170.55M |
| Investing Cash Flow | 356.18M | 235.52M | -20.87M | -121.26M | -66.33M |
| Financing Cash Flow | -644.42M | -595.89M | -935.95M | -368.07M | -34.95M |
Star Bulk Carriers Technical Analysis
Positive
18.99
Price Trends
17.84
Positive
16.48
Positive
16.33
Positive
Market Momentum
0.29
Positive
58.05
Neutral
54.06
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SBLK, the sentiment is Positive. The current price of 18.99 is above the 20-day moving average (MA) of 18.78, above the 50-day MA of 17.84, and above the 200-day MA of 16.33, indicating a bullish trend. The MACD of 0.29 indicates Positive momentum. The RSI at 58.05 is Neutral, neither overbought nor oversold. The STOCH value of 54.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SBLK.
Star Bulk Carriers Risk Analysis
Star Bulk Carriers disclosed 54 risk factors in its most recent earnings report. Star Bulk Carriers reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Star Bulk Carriers Peers Comparison
Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | $1.30B | 4.59 | 14.61% | 4.11% | -7.24% | -16.39% | |
80 Outperform | $1.73B | 3.90 | 13.38% | 3.56% | 5.63% | -17.54% | |
76 Outperform | $2.15B | 17.78 | 5.11% | 7.58% | 2.95% | -61.74% | |
74 Outperform | $1.29B | 4.02 | 11.19% | 0.45% | 0.28% | -17.08% | |
69 Neutral | $1.33B | 22.15 | 5.09% | 11.79% | 6.68% | -57.55% | |
68 Neutral | $1.68B | 14.80 | 6.06% | 9.67% | -7.73% | -39.13% | |
63 Neutral | $10.83B | 16.63 | 7.96% | 2.06% | 2.20% | -16.67% |
* Industrials Sector Average
Performance Comparison
SBLK
Star Bulk Carriers
18.99
-0.61
-3.11%
CMRE
Costamare
11.20
1.19
11.89%
DAC
Danaos
93.98
15.43
19.64%
NMM
Navios Maritime Partners
44.00
-1.50
-3.30%
SFL
SFL Corporation
9.16
-1.18
-11.41%
GOGL
Golden Ocean Group
8.27
-2.81
-25.36%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.